Penton Emerges from Chapter 11

Penton Media Inc., New York, the company that owns Electrical Wholesaling, Electrical Marketing, EC&M and about a hundred other business-to-business publications, websites, data products and trade shows, emerged from Chapter 11 early last month, less than 30 days after filing a pre-packaged reorganization plan.

The capital restructuring resulted in the elimination of more than $270 million of long-term debt and an extension of the maturity on the company's senior secured credit facility through 2014. In addition, certain existing shareholders made a significant new investment in Penton, which will provide additional working capital to fund operations and improve Penton's overall liquidity.

There have been no changes to staff, publication schedules or payments to contractors and service providers relating to the restructuring at any of Penton's electrical industry publications.

Webinars

The North American electrical wholesaling industry is being rocked by mergers & acquisitions, advances in technology, new competition from offshore and an uncertain economy. In this 60-minute webinar, Electrical Wholesaling Chief Editor Jim Lucy will discuss the changes in the electrical market now having the most impact on electrical distributors, electrical manufacturers and independent manufacturers’ reps....More